Shutterstock, Inc. has announced a significant merger involving multiple entities, including Grammy HoldCo, Inc., and Getty Images Holdings, Inc. Under the terms of the merger agreement, several mergers will occur sequentially. Initially, Merger Sub 1 will merge with Shutterstock, transforming it into a wholly owned subsidiary of HoldCo. Shutterstock will then convert into a Delaware limited liability company. Following this, Merger Sub 2 will merge with HoldCo, which will then become a wholly owned subsidiary of Getty Images. Finally, HoldCo will merge with Merger Sub 3, resulting in Merger Sub 3 becoming a wholly owned subsidiary of Getty Images. This announcement follows the recent filing of a registration statement and proxy statement related to the transaction.
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